4BWhat is a Key Facts Sheet?

4B What is a Key Facts Sheet?

(1) This regulation: (a) is made for section 33B of the Act; and (b) prescribes: (i) the information required to be contained in a Key Facts Sheet for a contract; and (ii) requirements that a Key Facts Sheet must comply with. (2) A Key Facts Sheet must: (a) contain the information, and be completed in the way, specified in the following form: (i) for a home buildings insurance contract—Form 1 in Schedule 3; (ii) for a home contents insurance contract—Form 2 in Schedule 3; and (b) be A4 in size; and (c) be set out in Arial font, in the following sizes: (i) the heading at the top of the first page that starts with the words ‘KEY FACTS’ must be in size 18 font; (ii) the word ‘STEP’ must be in size 16 font; (iii) the number after the word ‘STEP’ must be in size 48 font; (iv) the footnote after step 2 must be in size 8 font; (v) the rest of the document must be in size 10 font; and

(d) be set out in the following colours, with sufficient contrast in the colours to allow the text to be easily read:

(i) the headings, subheadings, and policy name, must be in blue type on a white background;
(ii) the top box in step 2 must be in white type on a blue background;
(iii) the remaining boxes in step 2 must alternate between black type on a white background, and black type on a light blue background;
(iv) the box in step 3 must be in white type on a blue background;
(v) the rest of the document must be in black type on a white background.